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Pro Gold i2 Online User Manual

 

Chapter 24 - Establishing Account Payable Starting Balances

Helpful Hints

  • Enter and Pay One Bill Icon is used to enter all invoices into Pro Gold XP
  • Select “New” to establish payable account (See Sample Payable Entry Screen on next page)
  • Select vendor from vendor drop down menu (Select “Add Vendor Icon” if vendor has not been entered)
  • Select/assign payment terms (e.g., Net 30, upon receipt) if one not defaulted
  • Note:  A default payment term can be specified for a vendor by selecting a term in the Payment Term field of the vendor record (via Work with Vendors Icon on the Payables Tab)
  • Select invoice date
  • Enter invoice # (not required)
  • Verify/enter due date; modify date if default not correct
  • Enter $ amount of invoice (Cannot be “Zero”)
  • At A/P acct block, verify/select appropriate G/L Accounts Payable (A/P) account (e.g., 2000, etc…) if default account is not applicable
  • At G/L accounts block:
    • Select/assign appropriate Debit G/L account (e.g., 6340-100, etc…)
    • Note:  A default G/L account can be specified for a vendor by entering a G/L account in the Default Expense Acct field of the vendor record (via Work with Vendors Icon on the Payables Tab)
    • Enter appropriate dollar amount
  • Use “Post” button to update general ledger (if you track in the G/L)
    • Can “Un-Post” the invoice if edit or deletion is required
  • Select “Done” to complete transaction
  • Enter all invoice(s) for a vendor to establish your true payable balance